Question
Details of purchase invoices, including shipping terms, credit terms, and returns, appear below. LOADING... (Click the icon to view the details of the purchase invoices.)
Details of purchase invoices, including shipping terms, credit terms, and returns, appear below.
LOADING...
(Click the icon to view the details of the purchase invoices.)
Compute the total amount to be paid in full settlement of each invoice, assuming that credit for returns is granted before the expiration of the discount period and payment is made within the discount period. (Hint: Assume FOB destination freight is included in the invoice price.) (Round your final answers to the nearest whole dollar.)
Freight and
Transportation
Returns and
Invoice
Credit Terms
Charges
Allowances
a.
$2,000
FOB destination, 3/10, n/45
$55
$200
b.
$5,500
FOB shipping point, 2/10, n/30
$100
$50
c.
$6,700
FOB shipping point, 2/10, n/45
$200
$350
d.
$9,300
FOB destination, 2/10, n/60
$150
$550
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